Zayo Group, a regional
provider of bandwidth and telecom services, today announced it has signed a
definitive agreement to acquire Tulsa, Okla.-based Citynet Fiber Network
(CFN), the wholesale division of communications provider, Citynet. CFN will
become part of Zayo Bandwidth, Zayo Group's fiber based bandwidth business
unit. This will be the sixth acquisition by Zayo since May 2007. The
acquisition is expected to close in the first quarter of 2008. Terms of the
agreement were not disclosed.
"CFN's network compliments our existing metro and regional networks by
increasing our fiber footprint in the Mid-Atlantic and Midwest regions,"
explained Dan Caruso, CEO of Zayo Group. "CFN has an excellent customer
service, installation and maintenance reputation and we look forward to
combining the best practices and capabilities of both companies."
The CFN network has 8,500 route miles of fiber covering 57 Tier I-III
markets in 10 states. The company's on-net buildings encompass many major
carrier locations like local exchange carrier central offices, carrier
hotels and wireless mobile switching centers. Upon completion of the
acquisition, Zayo will have doubled its metro and regional fiber route
miles to 17,000 serving more than 1,000 on-net building locations.
Zayo Group
Based in Louisville, Colo., Zayo Group was organized to support the
unique needs of its customers and consists of three distinct business
units: Zayo Bandwidth offers high bandwidth services for carriers,
technology companies, state and government agencies, educational
institutions and the healthcare and financial industries; Onvoy Voice
Services provides switched access, long distance, SS7, directory assistance
and operator services to local exchange carriers and other communications
providers; and Zayo Managed Services enables private and public sector
companies to avoid the expense and hassle of managing their voice, video
and data services by deploying and managing those services for its
customers. Zayo Group is backed by Columbia Capital, M/C Venture Partners,
Oak Investment Partners, Battery Ventures and Centennial Ventures.
Source: Zayo Group
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